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RSI low/high Values: [ 25 - 80 ]
* StockInvest.us uses dynamically calculated RSI max/min levels to determine when stock is oversold or overbought based on historical behavior.
AI Analysis of CIEN
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Green day on Friday for Ciena Corporation stock after gaining 0.547%
(Updated on May 03, 2024)

Buy candidate since May 02, 2024 Gain 0.55% PDF

The Ciena Corporation stock price gained 0.547% on the last trading day (Friday, 3rd May 2024), rising from $47.51 to $47.77. It has now gained 3 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.98% from a day low at $47.63 to a day high of $48.57. The price has risen in 9 of the last 10 days and is up by 9.66% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 359 thousand more shares were traded than the day before. In total, 1 million shares were bought and sold for approximately $51.65 million.

The stock lies in the middle of a very wide and falling trend in the short term and further fall within the trend is signaled. Given the current short-term trend, the stock is expected to fall -21.50% during the next 3 months and, with a 90% probability hold a price between $32.38 and $41.22 at the end of this 3-month period. Do note, that if the stock price manages to stay at current levels or higher, our prediction target will start to change positively over the next few days as the conditions for the current predictions will be broken.

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CIEN Signals & Forecast

Mostly positive signals in the chart today. The Ciena Corporation stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock, but the stock has a general sell signal from the relation between the two signals where the long-term average is above the short-term average. On corrections down, there will be some support from the lines at $46.74 and $47.40. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Friday, April 19, 2024, and so far it has risen 9.66%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Support, Risk & Stop-loss for Ciena Corporation stock

Ciena Corporation finds support from accumulated volume at $46.23 and this level may hold a buying opportunity as an upwards reaction can be expected when the support is being tested.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $0.95 between high and low, or 1.98%. For the last week, the stock has had daily average volatility of 2.23%.

Our recommended stop-loss: $46.05 (-3.61%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 10 days ago.)

Trading Expectations (CIEN) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Ciena Corporation to open at $47.99, and during the day (based on 14 day Average True Range), to move between $46.65 and $48.89, which gives a possible trading interval of +/-$1.12 (+/-2.34%) up or down from last closing price. If Ciena Corporation takes out the full calculated possible swing range there will be an estimated 4.68% move between the lowest and the highest trading price during the day.

Since the stock is closer to the support from accumulated volume at $46.23 (3.22%) than the resistance at $51.54 (7.89%), our systems sees the trading risk/reward intra-day as attractive and believe profit can be made before the stock reaches first resistance..

Is Ciena Corporation stock A Buy?

Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

Current score: 1.918 Buy Candidate Unchanged

Predicted Opening Price for Ciena Corporation of Monday, May 6, 2024

Fair opening price May 6, 2024 Current price
$47.99 ( 0.457%) $47.77

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for CIEN

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 48.93 2.44 %
R2 48.57 1.68 %
R1 48.35 1.21 %
Current price: 47.77
Support S1 47.63 -0.299 %
S2 47.40 -0.765 %
S3 47.04 -1.52 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 54.28 13.63 %
R2 52.84 10.61 %
R1 51.54 7.89 %
Current price 47.77
Support S1 46.23 -3.22%
S2 45.68 -4.38%
S3 45.60 -4.54%

FAQ

What is the symbol for Ciena Corporation Stock and on which exchange is it traded?
The symbol for Ciena Corporation is CIEN and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Ciena Corporation Stock?
Several short-term signals are positive, despite the stock being in a falling trend, we conclude that the current level may hold a buying opportunity as there is a fair chance for stock to perform well in the short-term.

How to buy Ciena Corporation Stock?
Ciena Corporation Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Ciena Corporation Stock.

What's the current price of Ciena Corporation Stock?
As of the end of day on the May 03, 2024, the price of an Ciena Corporation (CIEN) share was $47.77.

What is the 52-week high and low for Ciena Corporation Stock?
The 52-week high for Ciena Corporation Stock is $63.22 and the 52-week low is $39.94.

What is the market capitalization of Ciena Corporation Stock?
As of the May 03, 2024, the market capitalization of Ciena Corporation is 6.87B.

When is the next earnings date for Ciena Corporation?
The upcoming earnings date for Ciena Corporation is Jun 04, 2024.
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About Ciena Corporation

Ciena Ciena Corporation provides network hardware, software, and services that support the transport, routing, switching, aggregation, service delivery, and management of video, data, and voice traffic on communications networks worldwide. The company's Networking Platforms segment offers hardware networking products and solutions that optimized for the convergence of coherent optical transport, optical transport network switching, and packet switching... CIEN Profile

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